Outcome of the Board Meeting held on Tuesday, June 09, 2026
Awaiting price reaction for this filing.
AVI Polymers held a board meeting on June 9, 2026, where two new Non-Executive Independent Directors were appointed and two existing Independent Directors resigned. Meenu Jain (DIN: 07072779) and Reema Magotra (DIN: 09804839) were appointed for a five-year term, subject to shareholder approval. Meenu Jain is a qualified Company Secretary with about 12 years of experience in corporate governance, while Reema Magotra has experience in business management, finance, and administration. On the same day, Sadhu Jignesh Harendrabhai and Varsha Prajapat resigned as Independent Directors, citing pre-occupation with other professional commitments. The Audit Committee, Nomination & Remuneration Committee, and Stakeholders' Relationship Committee were reconstituted with the new directors taking key positions, including Meenu Jain as Chairperson of all three committees. The company confirmed the board composition remains compliant with Companies Act, 2013 and Listing Regulations.
Two independent directors stepping down on the same day — though replaced immediately — is a notable governance change that shareholders should watch. The quick replacement and committee reconstitution suggest continuity, but the back-to-back resignations within a short tenure may raise minor governance questions for retail investors to monitor.